When choosing a city to relocate to, expatriates carefully consider the cost of living because it has a significant impact on their overall quality of life, financial stability, and peace of mind, all of which affect their ability to adapt and thrive in their new environment.
Once again in 2024, the annual Cost of Living City Ranking has highlighted the distinct opportunities and challenges that each city offers while offering priceless insights into the varied and complex economic landscapes that exist across the vast and diverse continent of Africa.
While some cities have managed to maintain their existing positions, others have undergone significant shifts in response to a multitude of interconnected economic factors, including, but not limited to, fluctuations in currency exchange rates, changes in government policies, shifts in global market trends, and altering cost structures for essential goods and services.
Among the most affordable cities for foreigners are Islamabad, Lagos, and Abuja, which sit at the lower end of the cost-of-living spectrum.
A significant factor contributing to this trend is currency depreciation, which has substantially lowered the cost of living for international assignees.
In recent years, various factors influencing the global economy have significantly impacted the cost of living in major cities. These factors include volatile geopolitics, inflation, and fluctuating exchange rates.
These elements have increased the cost of housing, utilities, local taxes, education, and other expenses, which has a direct impact on the income and savings of globally mobile workers.
On the other hand, the cities with the highest cost of living, like Singapore, Hong Kong, and Zurich, struggle with issues like inflated housing prices, high transportation expenses, and rising prices for goods and services.
Here is the list of the 10 cheapest cities to live in Africa in 2024:
1. Abuja, Nigeria
Global Rank for cost of living: 226
Abuja dropped 86 places due to the currency depreciation. Nigeria’s capital city, Abuja, offers an affordable cost of living for expats, particularly in housing and utilities, which have seen lower cost increases compared to other major cities.
2. Lagos, Nigeria
Global rank for cost of living: 225
Despite being one of Nigeria’s bustling metropolises, Lagos ranks as one of the cheapest cities due to the lower costs of basic goods and services driven by currency depreciation. Lagos dropped 178 places as a result of the currency depreciation.
3. Blantyre, Malawi
Global rank for cost of living: 221
Blantyre is known for its low cost of living, especially in terms of housing and everyday expenses, making it a viable option for expats looking to live comfortably on a budget. The city dropped 23 places to rank among the cheapest cities in the world for expats.
4. Durban, South Africa
Global rank for cost of living: 219
Durban offers a lower cost of living compared to other South African cities like Johannesburg and Cape Town, especially in terms of housing and groceries. Durban was ranked 220 on the global list for cost of living in 2023.
5. Windhoek, Namibia
Global rank for cost of living: 218
Windhoek’s affordability is driven by moderate housing costs and relatively low prices for goods and services, making it an attractive destination for cost-conscious expats. The city climbed up 4 places compared to last year.
6. Gaborone, Botswana
Global rank for cost of living: 215
Gaborone presents a cost-effective living environment for expats, with affordable housing and lower costs for daily essentials. Gaborone moved up in the cost-of-living ranking by 1 place since 2023.
7. Lusaka, Zambia
Global rank for cost of living: 213
Lusaka is known for its low living costs, particularly in housing and transportation, making it an appealing city for expats seeking affordability. Lusaka, Zambia dropped 16 places from last year’s ranking to 213th in 2024.
8. Tunis, Tunisia
Global rank for cost of living: 210
Tunis offers a blend of cultural richness and affordability, with low costs of housing, food, and transportation for expats. The city moved up nine places to rank 210th in 2024 as compared to last year.
9. Cape Town, South Africa
Global rank for cost of living: 209
Cape Town, while being a major tourist destination, offers reasonable living costs for expats, especially in housing and utilities. Unlike Johannesburg, Cape Town climbed up to 209 from 208 in 2023.
10. Johannesburg, South Africa
The global rank for the cost of living: 206
Johannesburg combines economic opportunities with a relatively low cost of living, particularly in housing and basic services, making it a top choice for expats in South Africa. Johannesburg dropped to 206 as compared to its 205th place in 2023.
